Performance management is a systematic method of planning, setting goals and expectations, providing on-going feedback, observing and appraising effectiveness and efficiency, and maintaining open communications between employees and managers.
And in the compensation consulting field, it's imperative to follow up after plans are in place to ensure that they are working at optimal performance.
Most companies have spent a lot of time designing these programs. They have a performance appraisal system, regular reviews, and a compensation program, which somehow links to performance assessment. Unfortunately, these compensation programs are often not implemented effectively, if at all. Proper program design is essential for adaptation, but proper implementation is critical to the success of the program.
We work with our client-partners to design the appropriate program and to ensure the proper implementation of that plan. When a company adopts a D.G. McDermott performance management model, it moves from a system of controlling employees to one of coaching and guidance.
Today's managers must understand the corporate mission and goals and then guide their employees' development and performance based on these goals. When personnel goals are tied to company goals, namely with employee incentive plans, each employee feels like an important part of a team working toward a shared objective.
Performance Appraisal Systems